December 27, 2018
WELLESLEY, Mass., Dec. 27, 2018 – A critical natural resource to multiple industries, methane hydrates are primarily working to advance gas transportation methods. Additionally, methane acts as a prominent greenhouse gas, holding a significant percentage of the global greenhouse gas emissions in recent years and, as methane hydrates are becoming recognized as a potential clean hydrocarbon energy source, the global market is at a point of rapid growth.
The global market volume for methane hydrates is expected to grow from 17.8 thousand cubic meters in 2018 to 80.2 thousand cubic meters by 2023 at a compound annual growth rate (CAGR) of 35.1%, according to the report “Methane Hydrates: Applications and Global Markets Through 2023.”
Key players in the industry include: National Energy Technology Laboratory, Aker Solutions AS (AKRTF), Global Oil & Gas AG, Royal Dutch Shell PLC (RYDAF), Total S.A. (TTFNF), Inpex Corp. (IPXHF) and many others.
Methane Leaks Top List of Market Restraints
Scientific studies have revealed methane leaks from soils and oceans in the Arctic, which has been subsequently raising concerns about the uncontrolled release of methane from hydrate formations. Thus, this is one of the major factors expected to hinder the global methane hydrate market.
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Methane Hydrates: Applications and Global Markets Through 2023( CHM091A )
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